Blake Corporation acquired $100$ percent of Shaw Corporation's voting shares on January $1,20$X$3,$ at underlying book value. At that date, the book values and fair values of Shaw's assets and liabilities were equal. Blake uses the equity method in accounting for its investment in Shaw. Adjusted trial balances for Blake and Shaw on December $31,20x3,$ are as follows:

$4$ Consolidation of Wholly Owned Subsidiaries

Required

a$.$ Give all eliminating entries required on December $31,20x3,$ to prepare consolidated financial statements.

b$.$ Prepare a three$-$part consolidation workpaper as of December $31,20x3.$